Income Tax (Petroleum) Act · 2022 Revised Edition · Part · Assessments
26. Service of notices of assessment; revision of assessment in case of objection
Official textFrom Attorney General's Chambers, unchanged
The Collector shall cause to be served upon each company whose name appears on the assessment lists a notice stating the amount of its chargeable profits, the assessable tax, the tax payable by such company, the place within Brunei Darussalam at which such payment should be made, and informing it of its rights under subsection (2). Any such amount of chargeable profits, assessable tax and tax payable may be stated in a notice of assessment in such currencies as the Collector may deem fit.
Collector
“Collector” means the Collector of Income Tax appointed under section 3 and includes for all purposes of this Act, except the powers conferred on the Collector by sections 38, 39 and 42, a Deputy Collector so appointed;
If any company disputes the assessment, it may apply to the
company
“company” means a company incorporated or registered in Brunei Darussalam under the Companies Act or under any law in force elsewhere, but does not include the company acting as a State Party in a petroleum mining Agreement in accordance with the Petroleum Mining Act;
Collector, by notice of objection in writing, to review and to revise the assessment made upon it. Such application shall state precisely the grounds of objection to the assessment and shall be made within 60 days from the date of the service of the notice of assessment:
Provided that the Collector, upon being satisfied that, owing to the absence from Brunei Darussalam or sickness of any person or due to other reasonable cause, the company disputing the assessment was prevented from making the application within such period, shall extend the period as may be reasonable in the circumstances.
Brunei Darussalam
“Brunei Darussalam” includes the submarine areas beneath the territorial waters of Brunei Darussalam and the submarine areas beneath any other waters over which the Government exercises or may hereafter exercise sovereign rights in respect of minerals;
On receipt of the notice of objection referred to in subsection (2), the Collector may, by notice in writing, require the company giving notice of objection to furnish such particulars as the Collector may deem necessary, and may, by notice in writing, summon any person who, in his opinion, is able to give evidence with respect to the assessment to attend before him and may examine such person on oath or otherwise. Any person so attending may be allowed by the Collector any reasonable expenses necessarily incurred by such person in so attending.
person
“person” means any individual or group of individuals and any company, corporation or other body;
Income Tax (Petroleum)
petroleum
“petroleum” means any mineral oil or relative hydrocarbon and natural gas existing in its natural condition and casing-head petroleum spirit but does not include coal or bituminous shales or other stratified deposits from which oil can be extracted by destructive distillation;
In the event of any company assessed, which has objected to an assessment made upon it, agreeing with the Collector as to the amount of the chargeable tax, the assessment shall be amended accordingly, and notice of the tax payable shall be served upon such company:
Provided that in the event of any company, which under subsection (2)
has applied to the Collector for revision of the assessment made upon it, failing to agree with the Collector as to the amount of the assessable tax and the chargeable tax, its right of appeal under the provisions of this Act against the assessment made upon it shall remain unimpaired.
If the notice of objection raises a dispute as to the price
(as defined in section 8(2)) of any petroleum then, in default of agreement between the company and the Collector within 60 days of the notice of objection (or such other period as may be agreed), the dispute shall be automatically referred to the Price Review Committee for determination in accordance with the provisions of section 27. The determination of the Price
Review Committee thereon shall be final and conclusive for the purposes of assessment under this Act and notwithstanding any other provisions of this
Act no appeal shall lie against the determination.
Terms defined in s 2
Brunei Darussalam
Defined · s 2“Brunei Darussalam” includes the submarine areas beneath the territorial waters of Brunei Darussalam and the submarine areas beneath any other waters over which the Government exercises or may hereafter exercise sovereign rights in respect of minerals;
chargeable profits
Defined · s 2“chargeable profits” means profits ascertained in accordance with the provisions of section 8 or 10A;
Collector
Defined · s 2“Collector” means the Collector of Income Tax appointed under section 3 and includes for all purposes of this Act, except the powers conferred on the Collector by sections 38, 39 and 42, a Deputy Collector so appointed;
company
Defined · s 2“company” means a company incorporated or registered in Brunei Darussalam under the Companies Act or under any law in force elsewhere, but does not include the company acting as a State Party in a petroleum mining Agreement in accordance with the Petroleum Mining Act;
person
Defined · s 2“person” means any individual or group of individuals and any company, corporation or other body;
petroleum
Defined · s 2“petroleum” means any mineral oil or relative hydrocarbon and natural gas existing in its natural condition and casing-head petroleum spirit but does not include coal or bituminous shales or other stratified deposits from which oil can be extracted by destructive distillation;
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Appeals
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Collection, Recovery and Repayment of Tax
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Offences and Penalties
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